In the wake of market instability, the rage among fund management houses in Hong Kong has been to roll out guaranteed funds. May was a banner month for unit trusts. Total intake from Hong Kong investors totalled $1.3 billion, and guaranteed funds attracted $957 million of that, or about 71%, according to the Hong Kong Investment Funds Association HKIFA.
Not only is this the highest amount guaranteed funds had ever received in any one month, it is the highest amount received by any category of investment product. And that has been the case all year. Guaranteed funds have gained $1.47 billion in net inflows from Hong Kong investors, or 85% of the industry...
